the markets, guys, looking at all-time high. manufacturing data coming across the country extraordinarily strong. new orders up, production is up. exports is up. everything is up. handing a world record to neil cavuto. neil: if it doesn't stay, it is on me, way to go, charles, thanks. charles, never thank your before thes coming on staying a long time. you should say it is your honor. that doesn't work? >> still learning. neil: there you go, buddy. keeping close eye what is happening on corner of wall and broad. volume fraction what it would be, day before major holiday markets close in another hour or so. sometimes in these types of environments markets do the darnedest things. like racing to records, fairly broad based performances going on here. nicole petallides, too pick it all apart at the new york stock exchange. hey, nicole.

>> the dow is up 188 points. most of the sectors are higher. energy, financials, technology. stock market is looking pretty good. not necessarily some tech stocks which have gone to pull back. the dow hitting all-time record high, intraday. will it close at a record? you better watch for that key number. that would be 21,528 and change. energy is helped to power the dow as oil has been gaining, 46.47 the barrel. chevron, and exxon have been winners. we're seeing those lead the dow jones industrial average. losses financials which did so well last week on the ideas of bond yields on the rise, look at them again. leadership has really been the financials for whole month of june. financials were the best performing group. they're kicking off july in the same fashion. goldman sachs 3% higher. jpmorgan up 2 1/2%. looking at the dow jones transportation average, looking

at the intraday there, as that too, neil has hit a record high as well. so, some records to note. netflix moved into the correction territory. some of the tech stocks, a little shaky still. big picture record day on wall street. thank you, neil. neil: all that is happening in environment with media fixated on donald trump's latest tweets, particularly those that veer into professional wrestling. i digress enough to make the point "the new york times" is already accusing the president of encouraging violence. we have democratic strategist joining us, we have gop fund-raiser noelle nikpour. i want to begin with you, when i saw in in "the times" other papers saying he incites violence, i think it's a clear goof. the violence we've seen sadly on the left. we've had a couple uprisings at berkeley. we had actors or comedians or both talking about beheading the

president, killing the president, taking great joy finding a time in johnny depp's case to, look for another actor to kill the president. so i think proportionally the threat is coming from the other side. what do you think? >> well, neil, i think definitely during, i mean i would say there have been a couple of instances. i don't think that is specifically only happening on this side. neil: by the way, i read you three of 28 i could find. >> totally fine. all i'm simply saying, you can point to instances on the conservative side, certainly when obama was president of instances where he was shown pictures of him being lynched, other violent stuff. while i don't condone that, i think sometimes the run-of-the-mill depending on who is in the white house. that being said i do think trump's tweets whether intentional or not tend to be a distraction. i certainly saw on friday myself six articles about mika mika

brzezinski and joe scarborough. that is taking away attention. neil: i agree with you. any minute we're talking about this, not about the domestic agenda many so of the things he is doing. you might not like all of it but that is keeping where he has a lot more popularity. noelle, do you think he should stop all of this right now? keep to tweets that are to message, like some of the ones he has this morning? >> you know, yes, he should just stay on message and back up the republican party in messages they have out but i will tell you that you know, under this administration whether he is tweeting or not tweeting, in his first 100 days he signed something like 28 bills. roosevelt signed 76 and truman signed 55. this president is getting busy with it. what i do think he thinks in his mind working with these tweets, we can't think of marco rubio without thinking of little marco.

we can't think of ted cruz, without thinking of "lyin' ted." i think he thinks about branding something like cnn or msnbc, by fake news he is getting it across to america that this is what they stand for. and it's worked. he beat out 16 running mates by all these -- neil: not my opinion he is there. he made it. he is president of the united states. touche. you can put down a lot of this stuff, but this stuff is just a distraction. i think a lot of his messages, ati in. a, when it comes to economic messages things that are important, tweeting how he meets with foreign leaders, vladmir putin, i believe the president of mexico as well in next few days, those are good things to remind who you are, what you won, not to go back to the kind of stuff that isn't necessary anymore? >> right. i think, certainly as a democrat i would be remiss we could be discussing health care bill right now and --

neil: wait a minute? you're a democrat? >> well you introduced me as one. so, yeah. neil: just checking. >> i mean definitely that we're talking about the health care bill, the fact that maybe 15 million people might be off the health care bill. should we talk about repeal and replace later? should we talk about the people voted for him are affected by the health care law? neil: they're reminding their guests, this is professional wrestling is fake. missing irony of that statement, maybe that was the president's point. what you do is fake. some of the things they have done lately reinforced that image. should it be best for them if they say the president demeans himself for this sort of thing not to even acknowledge it? >> well i think that, certainly on this network, you yourself i think, i don't know when it was couple weeks ago you mentioned on your show a lot of the times, he tried to have a workforce development week, and health care -- neil: gets in his own way.

>> gets in his own way with his own tweets. that is absolutely issue. neil: i would say best ignored. noelle, he was here for the trump folks who want to kill me, he is there, he does it fine. you know, but, stop it. stay on message because your message, despite obviously differences over that approach, is a lot more popular than the things you're tweeting about. what do you think? >> i agree, neil, and to go a step further -- neil: really? i literally just made that up right now. >> you're awesome. neil: you can go too far with this stuff and get off message. >> yeah. another thing i have talked to some of the bundlers, some of the donors i deal with, a lot of those people said he is there, what is he doing, he made it. neil: punching down. punching down. >> he is punching down, doing things just beneath him. these things don't matter. neil: he is advancing a show

that no one sees in the morning on msnbc. >> good one. we wish he would stop. or at least focus on things that are going to help build his message and not detract from his message. neil: just gets in the way. gets in the way. >> build his own thing up, or you know, it is just exasperating. you're right, neil. neil: sounds like these professional wrestlers. we're going -- brother. >> i wonder if sometimes the tweets, intentional or not, all the barrage of tweets started when the senate went on their vacation hadn't passed health care as was the plan. sometimes he wonders doing it to distract from things not happening. neil: too clever by half? i think we're over analyzing this guy. i want to thank you both. have a safe, happy, 4th of july. two voices of reason on the left and right.

you sometimes find that. not all the time, in middle of texas democratic congresswoman sheila jackson lee, a guest on this fine show, talking about president trump, saying those tweets, they alone are reason, to resign. i said on this air, elsewhere, i think tweets particularly off subject and gets personal, punches down i think they're bad news. >> he constantly -- neil: congresswoman, that doesn't mean, you're out as president. let the american people decide that. >> the american people decided. his polling numbers are down under 40%. 36 or 35%. neil: i remember when ronald reagan polled in the 30s, congressman. >> ronald reagan was a commander-in-chief and was attempting to run the government. neil: if you go by polling numbers or snapshots in time we would never see ronald reagan reelected. a lot of you criticized me, many you guys are talking over each other. yeah, but it saves a lot of time, didn't it. back to an issue the good

congressman raising, implementing something called the 25th amendment. gregg jarrett, crackerjack lawyer, knows a lot more about it than i do. essentially, gregg, deeming the president mentally or physically incapable of doing his duty. you how does that work? >> she said the basis is incompetence and being i'll suited for the job. clearly sheila jackson lee hasn't read the constitution for 25th amendment. i would be happy to lend her my dog eared copy of it. it talks about the line of succession if the president becomes unable to discharge the duties and powers of his office. neil: who determines that? >> well he can determine it, or, the vice president together with the cabinet and then 2/3 of both houses of congress. neil: you need the house and senate to go along with it? >> yeah, you do. neil: okay. >> look the 25th amendment talks about functional incapacity. if you have a stroke or, if

you're anesthetized as a couple of presidents invoked it when they went into surgery. unable to feed yourself, that sort of thing. functional incapacity, that is different than ill-suited or incompetence is political judgment. i don't like your policies. i don't like the way you're handling your job. neil: or that you are crazy handling your tweets is what she was saying? >> yeah. neil: that was your first line of defense. how many, this was born i think in 1967, some years after the assassination of president kennedy. >> ratified in '67. neil: it was talking about abnormalities when woodrow wilson had a stroke and rumors that his wife ran the country or franklin roosevelt. it has never been used or attempts right? >> right. you have to get the vice president to say he is functionally inaccident pass stated, can't discharge his

duties. -- incapacitated. then the majority of the cabinet and leaders house and senate. both houses by 2/3 majority would have to vote. neil: couldn't leave it with the cabinet and white house and vice president, correct? >> you were correct when you were interviewing sheila jackson lee, you had this bemused and confused look on your face. she should get a refund for law at uva. she doesn't know anything about the 25th amendment. it has no application what serve, to a person who may be in her words, ill-suited in other job. neil: ill-suited in her estimation, gregg, that is seems mentally unhinged because of the crazy stuff he does. let me ask you a polite question in that regard. how do they determine if an elected official is mentally compromised, doing crazy stuff or increasingly crazy stuff? how do you address that? or do you say, that is a strict

thing to define? >> there is no standard for it, because it has never been invoked, never happened before. only a couple of presidents who have gone into surgery, invoked the third provision of the 25th amendment, which they can invoke it themselves. neil: president bush senior when he had surgery done, right? >> yes. so in terms it of functional incapacity, mental disability, never happened. my guess is you would problemly, want to get medical opinions -- neil: then the president would have to be open to medical evaluation. we do know under increasing duress presidents, this would be understandable, how far it foes is anyone's guess, richard nixon, henry kissinger were famously kneeling at paintings in the white house and praying. >> right. neil: i'm wondering would that have been a litmus test for someone to say, forget about the watergate thing, forget about the cover-up, now he is praying to paintings?

>> suffering paranoia and psychoses sis as nixon famously did. he became unhinged. was he unable to discharge his duties? turns out he wasn't unable to discharge his duties. neil: they would have to get the president to agree to psychological evaluation if they wanted to. >> you can't force somebody to have a psychological evaluation, what if you're really worried? >> by observation you could get medical opinions, but that is going up a road, it is not even close to being approached here. you have got a president who sends out a lot of tweets. sheila jackson lee and others forget, tweet about mika brzezinski was after she called him a thug, a dope, mentally unstable. neil: i don't think presidents should get in that tit-for-tat. >> although i must say, talking to a friend out there at his golf club this weekend, person after person came up, you keep going after the media with those tweets. his supporters like him doing that. neil: his supporters like it.

>> they view the media as inherent unfair and against the president. neil: sheila jackson lee is hardly one to be criticizing anyone. >> she voted one of the worst bosses on capitol hill. "washingtonian" magazine listed her as meanest member of congress. she has highest turnover rate. called her members of her staff, foolish, stupid morons. neil: you should hear what i call mine. >> we heard it in the hallway. two doors down from you. neil: they need that sometimes. >> she is such a hypocrite. she gives more than trump does. neil: you don't think this is going anywhere? >> no. neil: i hear people mentioned. >> they were aggrieved he won the election. she tried to contest that with the electoral college, it didn't work. neil: what did you think of the professional wrestling? just a goof-off. >> i thought it was goofy. you know -- neil: subliminal message there is. >> some people thought it was offensive.

other people i talked to thought it was hoot and holler and keep doing it. neil: did you know professional wrestling is fake. >> don't ever say that on television. it is serious and it is real, okay? i'm a lawyer. i know these things. neil: thank you very much, gregg jarrett. there you go. have at it. health cair stocks are up, looking for full repeal and replace later. between tweets, president has been advocating just that. the details what happens after this.

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i hate the outside. well, i hate it wherever you are. burn. "burn." is that what the kids are saying now? i'm so bored, i'm dead. you can always compare rates on progressive.com. oh, that's nice, dear. but could you compare camping trips? because this one would win. all i want to do is enjoy nature and peace and quiet! it's not about winning. it's about helping people find a great rate even if it's not with progressive. -ugh. insurance. -when i said "peace and quiet," did you hear, "talk more and disappoint me"? ♪ do do do do ♪ skiddly do do ♪ camping with the family ♪ [ flame whooshes ] neil: okay. we are still in record territory. by about three points or so. darnedest thing happened on so-called low volume days before holiday, abbreviated trading day, market closing 40 minutes early on day before july 4th. if you go back in history books, this is i wouldn't say common but not uncommon for big activity, big swings to happen. not happening across the board

on all market averages save for the transports. this seems to be dow jones industrials isolated. not that the others are not certainly going along or tried for the record ride. president trump keeping the door open for repeal-only health care bill. that is part of catalyst, by hook or crook, they will try to proceed with this, even if they do it in piecemeal fashion, setting the stage for big tax cuts they want to see. "daily caller" news foundation, chris bedford. good to see you. happy fourth. >> happy 4th. good to see you. neil: the markets read into this two-part way to go about it, repealing and replacing. something they should have considered at outset to answer. will it be? >> i think that strategy could work. i was sitting across the street from here with heritage action. they were pushing repeal first, replace early on. how are you guys going to do that. he was pretty frank with me.

i don't think the senate has courage to pass replace until they are forced to. he could probably hold republicans to do that. i think they might have been overconfident with that. senate republicans outside of mike lee, ben sasse, some of the conservatives will not sign on for chaos and could come and uncertainty without a new plan to replace obamacare. neil: chris, there is a risk with that strategy. they all agree on repeal, last go round in 2015 when they sent that to president obama, naturally vetoed it. all but one republican senator, sewers san collins of maine vote against it. say they get similar numbers. president this time a republican who will sign it. then a lot of stuff that goes with obamacare, those taxes are one thing that conservatives would love to see go away, but so too all care associated with it. wouldn't that be republicans in a even bigger pr pickle?

>> would be in a huge pickle. they spent last six years running ad after ad of people who lost their health care because of president obama. they wrote that ad. the democrats all they would have to do is take the same footage, change names on side of it, people would come at them pretty hard. neil: is there fallback chris, in interim we repealed and got a replacement. do you know what the method would be? you're dead on right, repealing it immediately means, well immediately a lot of folks are without insurance? >> i don't think they are able to do that. there is no fallback that will work without legislation. health and human services could fill in some of the gaps. the president could give permission to do that. the senate could even give permission to fill in gaps. i think it would frighten people to do that. more than likely, republicans last week were talking we may not to on august recess. i'm thinking, not end of july. it is end of june. you have weeks to figure this out, guys.

just like a kid gets homework assignment, due in a month they will get it last week. july they should get this together. mitch mcconnell should not be underestimated. he said they would stick to replace plan. neil: don't underestimate him coming up with means getting what you want. he has a pretty good track record. chris bedford. happen fourth. >> happy fourth. neil: chris bedford. netflix run into correction territory. a lot of folks are saying, could technology stocks follow suit? remember mark faber the doom and gloom guy, scariest german said, markets are going to fall! a lot of people said that is odd, he sounds like arnold schwarzenegger who, wait a minute. your impression is is horrible but that prediction still stands. why. after this. at fidelity, trades are now just $4.95.

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neil: now we have a date on it. tesla set to deliver its 35,000-dollars model 3, this would be a smaller vehicle than some larger ones out there, on july 28th. now this one, you told me, zero to 60 in 5.6 seconds? that is important why? it just does. because i asked for it, thank you very much. all right. and the one that is big one that is 2.seconds right? okay. so this is twice as fast, it is slower, yet two times slower, right. if you want to spend 30 plus grand for that, have at it. department of homeland security delivering some restrictions, i stress some on the laptop ban, only affecting one of the regions earlier addressed. tracee carrasco with all the information.

reporter: they have been banned on flights from abu dhabi to the united states after they put in tighter security measures. in march the united states banned laptops in cabinness on eight countries egypt, morocco, united arab emirates, saudi arabia, kuwait, qatar, turkey, to address fears that bombs could be concealed in electronic devices taken aboard planes. they credit ad facility at abu dhabi international airport where u.s. passengers clear immigration before they land in the united states for quote, superior security advantages, that allowed it to satisfy u.s. requirements. according to the dhs, tsa officials checked that the measures meet the requirements. airport officials told reuters the disruption to passengers with new measures will be minimal. processing time to travel to the united states unchanged. they operate 45 flights between be a but dub by and united states and only airport to offer

direct flights. emirates, the middle east is cutting flights on five u.s. routes because of travel ban i m mosted by president. qatar airways remains under the restrictions. neil. neil: tracy, thank you very much ahead of big g20 trip, that will be his second major trip abroad. how far will the trip go? keep in mind he wants to work on vladmir putin as well to try to see how they can move forward. washington standard, emily lashinsky here with all of that. what do we expect for the trip and what will come with it. >> first time trump meeting putin in the public eye. first time we know of in recent months. that is obviously the big story in the united states. they will actually be meeting at this thing. you will have tensions between trump and america america.

we heard sufficient from chancellor merkel, that they have disagreements she will not gloss over those disagreements. disagreements over trade, disagreements over refugees, disagreements over climate trade. donald trump postured very much against what european leaders want on all the issues of the he is comes in -- neil: snickering notwithstanding, i noticed a lot of nato member countries have been quietly forking over a bit more dough to fund nato and defenses and not rely exclusively on the u.s. where we had two countries technically paid 2% minimum. five if you include the u.s. close or at that level. but at least four others up there. quietly seems to be having some effect on them? >> i absolutely think that is accurate. he is putting pressure on them. he came into nato negotiations with pretty good specific, compelling arguments and i think they understand that and behind

the scenes probably easier to make a lot of those changes than in the public eye. i think he is getting results on that already. neil: i don't like to get bogged down in boredom or risk to you, emily, since you're considered cool, and i am not, i have noticed that the dollar is down 5.7% this year. if it is a sort of proxy how the people feel about the united states, our stock market notwithstanding they don't seem to show a lot of confidence. what do you make of that? is it an indictment against donald trump, where we're going? that we've run too far too fast anyway, look for alternatives, what? >> look probably more than, i was hesitant towards donald trump, uncertainty towards donald trump. that is where i would look for explanation of that. i think when you're looking at how european leaders reacting publicly, that seems like the best explanation. that is where i would say. neil: what do they think, emily, of his tweeting, particularly the latest round, the fake wrestling thing, whatever?

what do they make of that. >> it makes him look so unserious. people here want to be supportive of him. he has a base of people here who are very supportive of that, won't phase them no matter what. he is impervious. that segment of support is impervious to it. a lot of observers in europe, share concerns here that is unserious, it is distracting. want to come into this meeting and project american power, american strength, renewed american power and strength to some ex-strength that is distraction. that comes across he is fixated on television hosts rather than projecting power. neil: as soon as you said television hosts you lost me. have a safe and happy fourth. >> thanks, neil. thanks for having me. neil: whatever your views on all of that. we have interesting news on retail what they're doing, could be 4th of july phenomenon. maybe they were way oversold ahead of this amazon deal for

whole foods, but they're coming back. they have been clawing their way back. they had been an exception to what had been a selling rule that is until today. the dow in record territory. we'll have more after this. i joined the army in july of '98. our 18 year old was in an accident. when i call usaa it was that voice asking me, "is your daughter ok?" that's where i felt relief. we're the rivera family, and we will be with usaa for life.

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neil: for the 4th of july holiday congress is in recess. despite calls for canceling it and august recess lasts pretty much month of august, a number of members say if we're not near done with our work, let's stay and get the work done. presidential historian doug wead how much times congress called back into session, rarely i guess for the whole month they stay but we're focused on august right now, but it is unusual, right? >> it is very unusual. for both houses to be called back -- neil: who does that, who calls the shot at that sort of thing. >> the president.

the president has constitutional authority to call them back but i was going to say only four times since 1933 have both houses been called back, so the senate's called back more often because they need them to confirm judges an appointments of ambassadors. it is unusual, it is dramatic. neil: but the president would make the call. it is opposition party that doesn't necessarily have to heed it if it is just to complete a political agenda they don't like, right? >> oh, i think this would be tough. neil: really. if it is about health care you don't want to be the one to own this problem. neil: i see. >> late in 2016, let me ask you a question, neil, who was the biggest opponent and advocate for changing obamacare in the waning days of 2016 election? neil: i see what you're saying. >> and the answer was barack obama, because he thought -- neil: he felt that he knew the collision course it was on. so give him his due.

he knew what he was facing. >> he did. neil: the oddity here think about it, doug, they didn't end up repealing obamacare. they kept a lot of it in place. i know about the mandate, all of that, when push comes to shove there are ways around that, even mandate part of it stays. they could have saved a lot of trouble getting democrats on board, changing the the affordable care act mightily, not gutting it, not what democrats feared they would, right. >> right. the loser right now could be the american people and it is going to be hard for the republicans to say this is just a democrat problem and the democrats will be surprised, it is hard for them to say this is a republican problem. this is their deal. they have got to pitch in and help change it. it is what they created, and they -- neil: they're not interested in doing that. you touched on the rap back and forth, game of thorns, a phenomenal read what happened, how hillary clinton just missed

this, she now is the leader, self-described leader of this resistance movement. there are a number of other democrats who are not really interested in helping the republicans out of it. i always think that comes back to hurt them, doesn't it? aren't americans going to associate whatever problems obamacare has now with them? >> yeah, absolutely. and it's, its's, heart-breaking. when bill clinton said, oh, this is the craziest thing i ever saw, and donald trump laughed, he said, boy, bill clinton will have a rough night when he comes home to hillary, that was calculated moment. that was bill clinton, hillary clinton, and barack obama agreeing together that bill clinton would take this on and be the spoiler and attack it in hopes of helping to turn arizona where the prices were going to jack up just six days before the election. it is too bad. this is playing politics and people could die as democrats

have dramatically said. neil: republicans are getting blamed for the problems about the law the way it is now. forget about what they're coming up with. some liberals on this show tried to say, well, if you think what they did to sort of decap pate the exchanges the -- decapitate the exchanges, it is some of their problem now. a law that didn't get single republican vote, a law considered pain in the butt you by americans who blame republicans for it. i find that incredible. >> american people can get angry when they learn the truth about something. you can't underestimate the american people. look what they did last november. look how they elected ronald reagan twice when they were told not to. neil: by the way, you're a great historian. help me with this 25th amendment thing. we had gregg jarrett, phenomenal lawyer, explained it. came in as 196, holdover from the death of president kennedy

but dealing with presidents who are incapacitated you through stroke like woodrow wilson or advancing polio like fdc, that matter, series of heart attacks for dwight eisenhower. it has never been implemented, it would take a vice president and cabinet to get the ball rolling, that never happens. >> that never happens. when ronald reagan was in the hospital, was unconscious being operated on, george h.w. bush was vice president of the united states. they had an emergency cabinet meeting when they came in, he had full authority under the 25th amendment to take charge. he made a conscious attempt to the sit in a different chair. i left the president's chair empty. neil: president reagan, was he well enough at the time to say, to sign a piece of paper and grant that authority, or was that just understood at that moment? >> the constitution granted the authority. the vice president would have to take it. he refused to take it. he left that chair empty.

and he served as chairman for the purposes of discussion but he had that empty chair to make the statement. i'm not doing this, i'm not doing this yet. neil: can't come up roses there. doug, thank you. safe fourth my friend. "game of thorns," fascinating read what happen and fell together for donald trump and what didn't happen for hillary clinton. enormous chance to hear from both sides, and contacts and their admissions, unlike any of the books on this whole disaster that was that election for democrats as any i see. we let you know there are updates on adele. i told you on the very show last week, she wants to retire at the tender age of 29. a lot of people were saying retire from what? retire from tours? not going to extend to album-making right? apparently would be tours for time being.

some of her fans are furious. they first heard about it from me. i didn't want to do it. adele explain it, invite her on the show to tell you about it. mum is the word. right now her supporters are serious. fallout from something i started, i didn't mean to. sorry just the way i roll, after this. dearthere's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced. our senses awake. our hearts racing as one. i know this is sudden, but they say...if you love something set it free. see you around, giulia

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neil: you know, this was first too incredible to seem possible, disney shares up on reports that verizon, verizon could be looking to buy the company. telltale sign remake for "dora the explorer" as well, as finding people -- "finding nemo," the heroine phones for home with a verizon phone. interesting. adele fans are unhappy as i am but don't express that same way. she is canceling remaining tour shows, some are saying nasty things. sick to death of her drama. it left them with a lot of money out of their pocket because she is claiming a damaged vocal chords. they want the shows to go on. they're just a couple more supposed to happen in london. so, that is the home crowd

you're ticking off adele. now, we're told that she will continue singing but take wide breaks between albums. she usually puts out one every couple of years. and i hope that voice isn't silenced because as i told you it is one of the most beautiful voices on the planet but nevertheless some of her fans are saying horrible things about her that i will not repeat. my producers want me to repeat them. suzanne, i'm not going to do that, am i? i don't want you to know who suzanne is why she would want me to say horrible things about adele. what did you say in my ear? that is all the grammys and money that adele has gotten. so she could well i afford to retire right now. but that joyce can not be silenced many i'm sorry, world. another guy worried about it, jeff flock, he is covered i will he know, on the budget brink. when he heard that adele had

indeed hung up her sort of touring stripes here, he like me, was flabbergasted. jeff, very latest. reporter: does adele have a last name by the way? neil: we don't know? cod look make donna . >> coming up in as we speak in the house. tax increase of 32% in the personnal income tax rate from 3.75, to 4.95%. increase in the corporate tax rate as well. from 5.25 to 7%.

that will generate $5 billion which should cover budget without all the bills they haven't paid. the governor is not happy about this. he is threatening a veto. governor bruce rauner the republican, illinois families don't deserve to have more hard-earned money taken from them when this legislature has done little to restore confidence in government and grow jobs. what did want them to do restore confidence and grow jobs? they have not accomplished this. they want a property tax freeze in illinois. if you want to raise income taxes, freeze property taxes, give people a break. he wanted income tax mike to have sunset provision. expiration date. wouldn't do that. workers comp reform there, didn't get that. term limits, didn't get that. in all the pensions. don't even want to mention pensions. quarter after trillion dollars in debt, didn't touch that. republican legislators voted for it, you know what?

we're about to get downgraded by s&p on our bonds. we're without a budget. democrats gave something. we'll vote for it. one of them said, one of the republican legislators said, i quote him now. this is sword i'm willing to die on, that costs me my seat, so be it. it may, because the governor is threatening to run in the primary, in state legislature, people against anybody that voted against him. i leave you with this, if the senate passes this, it goes to the governor's desk, he vetos it, do they have votes to override? it will take republican votes. are they there? we will know, well, soon. he is fighting with his own party, essentially, right? >> yeah. talking about the democrats too. there are people in his own party say this has gone on long enough. we have to get this done. you know, he says, hey, we got to change this around somehow,

and if you're not going to change you it around, i will not sign the damn bill. we'll see. neil: we watch our language on this show, jeff. police that. see him on a day where adele -- kind of ratchet that down, you know? >> reporter: gotcha. i copy that, sir. neil: jeff flock, devastated as i am about the adele news. she is going to continual bums and she is bothered by how obsessed i am with her, and says, it makes me uncomfortable. she didn't say that. that is is my producer said that. but any way, she is going to continue singing, just not as often and touring maybe not at all. 29 years old. come on, adele, think this through. we're minutes away from early closing at corner of wall and broad. more after this.

liberty mutual stood with us when a fire destroyed everything in our living room. we replaced it all without touching our savings. yeah, our insurance won't do that. no. you can leave worry behind when liberty stands with you™. liberty mutual insurance. neil: all right. we are about 50 seconds away from ending the first trading day of the second half of the year, and it looks pretty good. this quest for a record today, that we might be a little shy of. nicole petallides to sort of handicap where we stand, this early closure, of course, ahead of the fourth of july holiday tomorrow. >> i think it's really interesting that energy and financials led the way right across the board. we saw up arrows, the dow hits a new high. didn't close at a record,

21,528, nope, no record but an intraday high nonetheless. i will continue on here -- [cheers and applause] you see macy's with their fire works, right? i hope everybody has a good fourth. the s&p 500 posted its first gain, up 8.5%. the nasdaqing, which is up about 14% -- i hope you like those fireworks -- up about 14% this year, but it's interesting, we saw some of the tech titans coming under pressure, neil, and names such as facebook, apple and amazon fell to the downside. technology, which started off in the green in the early morning when the dow was up over 200 points, went green to red and accelerated to the worst group of the day. and the name like netflix moved into correction territory. and last but not least for this week we're going to watch for the fed minutes on wednesday, the adp private jobs report thursday, the jobs report on friday. non-farm payrolls, 180,000 is

the estimate, 4.3% for the unemployment rate and then, of course, the nato summit and g20 meeting. a few things on the docket we'll be watching. up arrows. neil: thank you very much. 21,477. not a record, but an appreciable advantage just the same. had been in record territory much of the morning, but the trading day is over, and the second half of the trading year is on. president trump is saying at some point state news will be forced to focus on the economy. he says that's the good story, and today tweeting to that effect. if they can stay on subject, like i say, that's the stuff to tweet about, because that's the stuff if you want to argue the media largely ignores, he is right about that. so maybe this other stuff with the wrestling and everything else, i think -- again, that's just me, and i hear from many of you who disagree. gary b. smith on if investors even care about the tweets. quinnton, my view is they do when they're of a subject they

might like, like the improving economy, the $4 trillion market appreciation since his election. i think they like those kinds of tweets, i don't know about the other tough. what do you say? >> i agree with you completely. the markets, such as it is, even the algorithms, right? the software. goes right through just to hear about the economy and what the president intends to do. in terms of tax reform, in terms of infrastructure spending. that's what the market is focused on. and when he focuses on that, it's very well received by investors and analysts. but here's the deal, the market doesn't pay attention to anything else other than what it will do for the economy, what it will do for corporate america. neil: so, gary, by that rationale i think quincy's pretty smart at this stuff, i mean, any minute devoted to the stuff like the professional wrestling/cnn joke is one minute

less to the stuff that quincy was talking about. that is my take, that that's when it's bad, because you do have a lot of good stuff to say. you do have a lot of agenda items that are far more popular than this. and when 70-plus percent of americans say the tweeting, you know, you're overdoing it a little bit, what do you make of that and whether it gets people -- certainly the administration distracted what it should be doing? >> well, for the most part, i agree with quincy, although i would scale it down a bit. i would say on a scale of 1-10 investors are paying attention to trump's economic policy tweets on a 2 and everything else is a 1. i mean, it's certainly entertainment. the problem is he's diluted his own message even on the policy front. there's been tweets about how health care's going to get done, how tax reform is going to get done, how we're going to build the wall. and people reading those tweets are, yeah, i'm optimistic something's going to happen, and

nothing's happened so far. yeah, i mean, around the edges, you know, he's made some progress. i certainly think he wants to do the right things, but the tweets are becoming just right in with the wrestling, they're becoming white noise. neil: that's interesting. >> neil -- neil: go ahead. >> i told people that the worst thing they could do every day for their portfolio was read the newspaper. becoming, i'm starting to believe the worst thing they can do is read twitter from almost anyone these days. neil: or hear the accounts of what the administration's position on a given issue, right, quincy? i mean, not to trash him, but the fact of the matter is his position on the health care thing has been very volatile. welcome to the house care plan, later on called it mean. said that they should move concurrently on repeal and replace, maybe not concurrently. repeal it first then replace it later. on tax cuts, open to a border tax, not open to a border tax. so is it sending mixed signals here? do you worry about that as

someone who counts on those tax cuts, on a health care revamp effort as almost a given? >> well, yeah. i mean, it is interesting, neil, that the market after the election really factored in the agenda moving on a very clear itinerary, if you will, in terms of progress. then the market just basically pulled back, in essence, because we could see by the sectors that started to change. and basically moved towards fundamentals. and now i think that the market is saying, okay, you get it done, and if you don't get it done, we will have to focus more clearly and completely on corporate fundamentals and economic data releases. and, of course, what the fed does. so the market, the market is going to move in one direction or another. different sectors will be leading. but if, if it looks as if they can get the health care bill done, i think the market will

factor in success with tax cuts. maybe not reform, but tax cuts. here's one for you. the market or analysts are now talking about, well, wait a minute. maybe if health care doesn't get through, the republican party will definitely have to do something with taxes, because they don't want to go to 2018 and those elections with nothing. neil: yeah. well, that is the hope, yeah. but, i mean, they still must see that same, you know, whites of their eyes here, and they don't do that. >> yeah. neil: you know, but let me ask you, and we have, gary, in the past. worst case scenario, none of this comes to pass, at least this year. the health care rework, the tax cuts, at a very minimum they get pushed back to next year. then this market runup. what happens to it? >> well, you know, i've thought a lot about that, and i guess i would take the position of this: if nothing gets done, then we basically have a few more years -- depending on if trump gets reelected around -- of basically the obama economy. and i look back at that time,

and as much as i did not like their policies, the market was up almost 125% since the time he took office. so just from a market perspective -- not from are an economy perspective, from a market perspective -- i say, you know, i can live with another 125% gain. so maybe it wouldn't be that bad. neil: wow. guys, i want to thank you both. hope you have a great fourth, appreciate you coming in. in the meantime, july 4th gas prices, one thing we do know, they're the lowest they've been in a dozen years. how long that lasts and what the fallout could be, because depending on your perspective this could be great news, prescribe my as a driver, not so great news as an investor. to expert phil flynn at the cme. phil, what do you see happening here? >> happy fourth of july, neil, or third of july, however you want to say it. listen, we have to enjoy these incredibly low gasoline prices that we've had. more americans are going to be traveling than ever before. we didn't quite get below that

$2 national average a lot of people were looking for, and i don't think that's going to happen because we're starting to see signs that things are changing not only in the oil space, but in the commodities space in general. i mean, the first half of the year was probably one of the most challenging for oil and commodities we've ever seen before, but that could be changing. we're seeing signs that things are bottoming out in the commodity space and the oil space as well, and we're seeing that the producers in the u.s. are pulling back a bit. so a lot of things are happening in a short period of time that could change the outlook for the rest of the year. neil: normally oil, when it runs up, then the fracking factor kicks in, and that offsets whatever gains have been out there. but this fall-off, there's been nothing out there to reverse it even when more to opec members and even non-opec members talk about curtailing production, the market gives them a collective shrug or we don't think you mean it. what's going on? >> i think there's a lot of doubt in the marketplace.

but i'll tell you, u.s. energy producers went crazy this year, neil. they added more rigs than ever before, and we just broke a record spring of increases in commodity prices. the problem is they probably added them too quickly, too fast, and they probably added them so fast. we're probably this recent price break that we saw in oil seeing a pullback, okay, in u.s. rig counts. the first time we've seen since january. we also saw u.s. oil production fall for the first time this year in the month of june. that wasn't supposed to happen. so it looks like u.s. energy producers are pulling back here a little bit here. but there are so many commodities that have gone crazy down here, today the grain markets have been on fiemplet concerns about drought, you know, in europe, hot weather coming into the u.s., they've got that going. gold prices under a lot of pressure today because of the rising dollar. but the good news is the economy is getting better, and that's going to be good for commodity prices. that ism manufacturing number, great for u.s. workers. of donald trump's making manufacturing great again, and that's good for commodity

prices. because the more stuff you manufacture, the more commodities you use. neil: there is that. all right, phil flynn, thank you very much. have a happy fourth. >> thank you. same to you. neil: mark cuban is giving advice to fbn and the media on the president's trips, also getting an update on adele. we're efforting her to come on this show shortly. i have to make the calls because she doesn't know who my staff is. she wants to retire at the tender age of 29. if you don't want to do any more concerts, that that's your business, but i don't want that voice closed forever. she has assured me -- okay, she's assured the world -- she'll pop in here, right? sure, sure. [laughter] also, i should let you know the dow transports were at an all-time high today. a lot of people read into that something good or a harbinger for the economy. this is the stuff that moves, right? trucks and rail, and if they're moving, they're moving a lot of goods, a lot of packages, a lot

of stuff, and that can help the overall economy and sometimes translate into improving economic numbers. a lot of people say that dow theory, as it's called, starts with the transports and is confirmed with what's going on in the averages and vice versa. in other words, the averages can't take off very long until, until, until we see the transports confirming that. in other words, the orders for stuff will keep this stuff going. we shall see. more after this. at fidelity, trades are now just $4.95.

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♪ there are. ♪ ♪ neil: all right. you know, you'd think in the middle of this drama and the president and his tweets that the markets will be tanking as our leader is doing professional wrestling videos? the fact of the matter is, i'm very nonplussed by this. trading ended early, by the way, and it had been a record territory, finished up nicely, about 129 and two-thirds points. the dow transport, that was at a record. i mention all of this to say this is happening despite all of this fixation on the president's

tweets. and now you have the likes of mark cuban telling fbn, you know, maybe the better part of valor would be to ignore them. we've got a former new york trump campaign manager. well come to both -- welcome to both of you. so, ben, looking at the president's tweeting history and how it's increasing, what do you make of it? what should he do? >> well, i think president trump and the trump administration and cnn are both complicit in the role of not giving the american people enough information, information that actually matters so that the american people can actually make rational decisions when they go to the voting booths in 2018. cnn right now is thrilled. they're so happy. we'll talk about their ratings, i'm sure, are going to go up with with trump feud. but they understand there's more significant issues in the world, and they're choosing to follow -- neil: they're running with it x they always do well when they're in the negative stance here. >> of course. neil: one of the things i just

wanted to get with you, joe, is did the president maybe jump the shark a little bit with this latest video, the professional wrestling? i know it was a goof-off, and that's the way his people have treated it, with a humorous bent. for all i know, maybe that is the case. is this presidential? >> i don't think this is any worse or any better than anything he's done through 2016 -- [laughter] when he was using twitter effectively -- neil: but now he's president. and we're talking about it and not about that economic agenda. >> right. certainly now he's president. but let's not forget the president issued nine press releases over the weekend on topics ranging from cooperation on north korea, the chinese president, speaking with president erdogan. all of these things got scant coverage in media. neil: don't you think because of what he does? >> i think he's trolling. i think he knows with 15 seconds of his life, he can copy, paste and tweet, and the world is going to lose their minds. >> i personally don't feel comfortable with a troller in chief.

specifically not one whose wife, melania, has promised to take on cyberbullying as her cornerstone issue as first lady. this is president trump being afraid to talk about the big issues, that's what i believe. he's comfortable in this reality show world, making fun of celebrities, he's comfortable -- neil: you think there's a calculated gambit here to get them off the negative stuff -- >> or just the stuff that he -- neil: but that gets him off the positive stuff. >> i don't believe he has the intellectual end tuesday to really have articulate conversations about that -- neil: so you think he'd be deliberately sabotaging? okay, that's as crazy as you claim he is. [laughter] >> maybe i'll be president one day. i do believe he's not comfortable talking about policies, and this is an area that he knows how to converse in. neil: distraction from what you don't want? >> no. i think the first four months of his presidency were marred by the media over something that has no basis in merit or evidence, this russian collusion. media spent the first four

months chasing this unicorn, and they came up short. and now he's distrustful, his supporters are distrustful, so if he wants to spend 15 minutes of his life having a little fun, and spare me the sanctimony of the media who had no problem with this play in new york -- neil: no, on that you're right. >> no, no, no. this is -- [inaudible conversations] >> wwe is fake wrestling. i don't want to burst your bubble -- >> oh, i understand that, but he's a real president. >> just like julius caesar. neil: do you think that the president responding, isn't that like punching down? don't even respond to it, it's silly. >> do i want him to do it as frequently as he does? no. if you want to sell a little red meat, that's fine. neil: he is right, the media gets away with outlandish stuff. >> shakespearean actors are not on par with the president of the united states -- neil: what about a comedienne walking around with his head, what about johnny depp saying we should have another actor killing the president? >> johnny depp is a wino actor

who i absolutely love -- neil: what about violence protests at berkeley? >> valentine's day of this year the senior white house adviser's head on a spike was tweeted out. if this is appropriate for "the new york times" to do -- neil: i think what he's saying is it's not appropriate for the president to get on that level and respond, he's above it. he's the president. he doesn't have to -- he's the president. he doesn't have to. met them play their -- >> he doesn't have to, but if we go back through just this weekend as i mentioned, you see so many -- you know, the president's tweets are news except for this morning when he tweeted out he's going to try to save this baby who the british courts have condemned to die -- [inaudible conversations] >> why is the u.s. president weighing in on a local issue in the u.k.? neil: that's become a worldwide issue. wouldn't you rather see something like that -- [inaudible conversations] wouldn't you rather see something like that than these sidetracked discussions? >> yes. for this president that was a slightly better tweet than the one -- neil: but you'll never give him the benefit of the doubt though, will you?

>> you know, the great irony with julius caesar is at the end of that play, people regret that they killed caesar because it caused a power vacuum, and the entire thing was -- neil: well, at the time the actual guy did cause a power vacuum. >> the president of the united states, if he wants the american people to stay focused on his agenda -- jobs, the economy -- neil: that's very interesting. what he's saying is the president -- >> i don't believe that he does. [inaudible conversations] >> i think the president has realized that the media's not going to cover him in a favorable light regardless of what he does. we see that even with the wage gap, a story that came out today in certain media outlets. yes, this was always touched upon previously, but now certain networks have graphics, nonstop coverage of this issue. when it was obama, when it was hillary clinton's wage gap in the clinton foundation, when it was senator warren's wage gap last year, it was only a very scant mention of it. it's a double standard. neil: but he's the president. he is the president. i hold him to a higher standard. >> but coverage of this president, there's a double standard. >> that is ridiculous. when george w. bush was in the

white house, it was nonstop bush hate. when barack obama was in the white house, there were news networks, believe it or not, that didn't like him. there was a lot of celebrities that did not like barack obama -- neil: i think it's fair to say that barack obama got better press -- >> by cnn, he might have gotten -- neil: i think it's across the board. they miss him dearly. >> everything he did, every foreign leader, barack obama's meeting was billed as historic. and now every day on the other networks you're seeing these prediction of dire situations. neil: yes. >> remember, leading up to his meeting with president xi of china, the media was confident this was going to end in disaster, if not world war iii. and what actually happened was a foreign policy success. we saw that with president moti of india -- neil: you don't give him the benefit of the doubt, right? >> he has no legislative experience, he has no history in politics -- neil: someone's a hater. someone's a hater. >> i'm just saying if donald trump wants more positive press,

he needs to stop proving everyone correct that he's too immature for the position he currently holds. neil: all right, joe doesn't know what he's talking about. sad. i just made that up. >> i didn't want to hang out with him on new year's eve, but i just had a facial -- neil: real quickly, what about adele hanging up her singing shoes? >> i love adele. >> she's talented, great voice. neil: what do you think, she's, like, in a chorus line? [laughter] >> you know, my wife's a tremendous fan, so i hope she keeps making some records. neil: obviously, you guys are going on with life with the prospect that this 29-year-old could be happening it up. >> it's devastating. neil: i really don't know -- [inaudible] all right. i want to thank you very, very much. good sports, all. meanwhile, the the president's second big trip abroad and what that means to his economic agenda depends on what he tweets out, i guess. after this. ♪ i had frequent heartburn, but my doctor recommended...

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neil: all right. it'll be short and quick, but it

could be memorable. the president getting ready for his second foreign trip, and this one will involve a chat with vladimir putin. fbn's blake burman on what we can expect and what they are worried about. blake. >> reporter: hi there, neil. and the upcoming g20 summit very clearly on purpose's mind on this -- on president trump's mind. he tweeted out he would be having phone calls with the leaders of france, germany and italy throughout the day. that is an interesting subset, especially when you look at angela merkel of germany, germany hosting this g20 summit as these folks have been very critical of the president and his decision to pull out of the paris climate accord. in fact, it was merkel who kind of set the table on this topic last week in which she said the following as it relates to paris and the president's involvement in the upcoming g20, she said and i quote here, one should not expect any easy conversations in hamburg. so those conversations, those phone calls at least later today or at least throughout the day. the president also over the

weekend spoke with the leaders of china and japan, xi xi jinpi, shinzo abe. trade was a part of those conversations, but also north korea remains the number one issue for the president in that part of the world. those leaders will also be at the g20. but you also mentioned, neil, what many are looking to, the big intrigue here, and that is the one-on-one facetime that trump is expected to get with one vladimir putin. of course, many questions abound, some of them being what, if anything, president trump will say to the russian president about meddling in the 2016 elections. but earlier today on "fox & friends," kellyanne conway was making the argument that part of the focus should be on russia's involvement in syria. listen. >> why hasn't anybody said will he discuss the fact that russia's, what russia said or did not say after assad gassed men, women and children in syria? where is the outrage about items like that happening a couple short months ago?

>> reporter: and, oh, by the way, neil, if that wasn't enough on the plate for the president in his upcoming meetings later in the week, the white house says he will also meet with the leader of mexico. and here over the weekend in washington president trump reiterated once again that the wall will be built. neil, back to you. neil: one way or the other. blake, all right, thank you very much. blake burman. meanwhile, as expected, the illinois house has just passed the bill for the fiscal year 2018 budget that will include at least $6 billion of bonds to pay off those bills, also hikes in some taxes particularly on the upper income that could put a competitive disadvantage to those in the neighborhood here and those who are worried about this. so besides that i don't know what the fallout will be. the governor's already promised that he would veto it, and he's fighting as many in his own party as he is democrats who aren't keen on it. illinois passes this serious hump, but it's not out of

hurdles yet. meanwhile, will this upcoming foreign trip help the president get back to an economic agenda and some say a promising foreign policy agenda? to real clear politics reporter caitlin huey-burns. what do you think of that, this second trip where many european leaders have already had a chance to size him up. we know angela merkel isn't feeling cozy with him, but this'll be a first opportunity with, you know, vladimir putin and others. so what do you think? >> right. well, it certainly does provide the president and the administration the opportunity to turn the page in terms of news and focus on foreign affairs. in the lead-up package talking about kellyanne conway, the point she was trying to make, the white house is very much trying to say that they are going to press, talk to russia about syria. and so that's also, of course, pertains to the president's plan to fight isis. but as we've seen with the first foreign trip that he took, controversies do not stop at the border of the u.s.

they tend to follow him where he goes, and we'll see kind of what messages he is sending out while abroad. remember on his first foreign trip he didn't tweet anything, he waited to come back to the united states -- neil: right. >> that was certainly a show of discipline. we'll see if he can do that there. but as you mentioned, these relationships are very fraught and controversial particularly with vladimir putin. neil: now, with vladimir putin he's damned if he does, damned if he doesn't. if he's too close, too cozy, a lot of people are going to say, aha, and still others if he gets too in your face particularly regarding syria and air space and each side promising to shoot the other guy's planes down if they get too close, he almost can't win on this. what's the consensus read what he's got to do? >> i think the reason about why people are interested on whether he will press putin on election meddling is the president hasn't been in line with republicans in congress as it pertains to taking a tough line on russia. the president has not gone as

far as republican lawmakers have to say that, yes, in fact, we know that russia meddled in the election. he said that might have been russia, it might have been other countries as well. he hasn't been as critical of russia, of vladimir putin as his republican members of congress have. so that's an interesting thing to keep an eye on. there's also, of course, the concern about what exactly he will say in this one-on-one meeting with vladimir putin. remember, he came under fire for meeting with members of russian officials in the oval office without the american press there and reportedly shared some classified information at the time. neil: right, right. >> so people are really keeping an eye on what he will say and how he will say it. neil: all right. always the scrutiny you get, caitlin huey burnings thank you very much. >> good to see you, thanks. neil: new warnings coming from the cbo, the debt is compounding itself. does that comepound the need for tax reform? depends on your perspective. ♪ flush.

♪

♪ ♪ >> welcome back to "cavuto coast to coast." the government doing what it's good at, getting bigger. the government will collect more money than ever in taxes in fiscal 2018, unless current laws are changed. some 3.31 trillion in total taxes, that includes both individual and corporate taxes. individual payers alone will contribute an additional $150 billion over fiscal last year. now, sounds good because it may point to a stronger economy and one that could avert the debt cliff that the nation faces. the total federal debt now perched just below $20 trillion. that's nearly 166,000 per taxpayer. but not so fast. in fact, each as the federal government collects record levels of our money, the federal debt will jump $1 trillion according to a new study

released by the congressional budget office. the news comes as treasury secretary mnuchin calls on congress to increase the government's borrowing authority to avoid a devastating economic default. finish the cbo says the drop-dead deadline for getting things done? early to mid october. and all of that is sparking fears that pressure could mount for tax hikes even as republicans call for tax cuts. and, neil, one unknown here is what impact rising interest rates might have on the massive federal debt, already the cbo has said that an additional $160 billion in spending will be needed every year over the next ten if interest rates rise just one more percent from current forecasts. neil? neil: incredible. all right, gerri, thank you very much. gerri willis. all right, so does the climbing debt help or hurt your case for making tax reform, or certainly even cutting taxes? news editor terry jeffries says the government simply is growing

too much, so you could argue with that argument -- very good to have you -- that, well, the last thing you want to do is put off tax cuts. that's my read of this. but others will say, well, now we can't cut this much. where's this going to go? >> well, they need to cut, neil, because another factor in this in addition to the rising debt and the massive increase we've seen in government is absolutely stagnant economic growth. we've had a record 11 straight years with less than 3% growth. and in the coming ten years, according to cbo, we're never going to see 3% growth. so if they're right, we're headed towards 20 straight years or more without 3% economic growth. if you don't have the growth with, you're not going to see the standard of living rise in the united states of america, and the government is going to tax anyway because they're not only not just going to -- they're not going to pay for what they're doing. according to the cbo, the increased debt of the united states government will be a trillion dollars or more a year

over the next ten years. neil: so you could argue that it behooves you to do something to boost that growth. tax cuts seem to do that. but the risk is that if you want a generous tax cut or one that's going to give you a lot of bang for the buck, you don't care about the near-term effect it has on deficits. it will likely worsen them. but we've learned from prior experiences with in that it also helps you, it creates more revenue down the road. now, who has the stomach though to absorb and accept those higher deficits before the money starts rolling in? >> well, i think what we need in washington, d.c. is leadership to explain to people why our government is exploding and why we need to deal with it. the real drivers of -- neil: but they won't, terry. for some reason they just won't do the thing they have to do to rein in that government growth. they don't. >> you know, neil, i agree with you. and i think that what we see going on with the obamacare debate, they don't want -- the republicans don't want to go out

and argue, yes, we want to gut medicaid. neil: right. they're afraid of it. >> they're afraid to make that argument. and as long as we have the quote-unquote conservative party in washington, d.c. afraid to make an argument against the welfare state with the -- which medicaid exemplifies, then we're doomed. because as the cbo points out, hey, another $10 trillion in marketable debt? right now the treasury's paying an average of about 2% on the marketable debt of the united states. you add another $10 trillion to that and you double or triple the interest rate, this country will go bankrupt. so there's either really two possibilities. one, it's that the politicians in washington grapple with the things that are expanding government, especially things like medicaid and the welfare state. or, two, we are headed towards fiscal catastrophe. and the cbo says that very politely, that when it happens, it won't be a polite thing. it'll be a catastrophe for every family out there watching this show. neil: no, you're right about that. >> we need to fix our country by making government smaller, neil.

neil: and only in this vernacular as washington as you know better than anyone, terry, nothing is being cut. when it comes to medicaid, they are curbing the rate of growth. and only in this environment are can that be deemed, you know, a cold, callous cut. i mean, nothing, nothing is shrinking in washington. except maybe iq points. >> no. [laughter] you know, when they talk about 22 million fewer people would be insured under the republican senate plan to fix obamacare, when you look at the numbers you're saying 15 million of those are fewer people than would be on medicaid ten years from now -- neil: that's exactly right. >> -- and seven million people will not be unsured mainly because they choose not to buy insurance because the federal government isn't forcing them to buy insurance. you take one step deeper, neil, and you look at those 15 million who won't be on medicaid who would be under current law, they say there's going to be 86 million people right now --

neil: incredible. >> -- on medicaid in 2027. you subtract that 15 million, you get 71 million. there are only 58 million people on medicaid when the obamacare exchanges opened. so you're actually talking about a 13 million increase in the number of people on medicaid. not a decrease. neil: yeah. very important to point out. you're basing the numbers, the cbo numbers on the projected rate of growth in all insurance over the course of the next ten years, and these are the same guys -- no offense, the only game in town -- who can't forecast what we're going to have for breakfast tomorrow. but you're right, terry. but, you know, it's like banging your head against a rock. thank you, my friend. be safe, be well. all right. in the meantime, some movie sequels continue to underperform. they do very, very well, don't get me wrong, they just don't do as well as some of their predecessors. all right. still waiting for adele, and i think we have a response. hold on, america, you won't believe this. when i come back, the first

thick i'll say is -- first thing i'll say is hello. ♪ ♪ ♪

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adele has just reached us with an official reaction to my nightmare scenario i laid out for the world, that she wants to call it quits. easily one of the most beautiful voices this planet has ever known. wants to retire at the tender age of 29. then we got clear indications that maybe it isn't an outright retirement as much as it is just cooling it on all tours that she's been on. and so the last few, particularly those in london, canceled. but as promised, adele -- and she and i are like this. we're like, you know, can you see that? [laughter] that means that we're really tight. she got back with an official comment, and that comment is -- no comment. [laughter] all right. now, i know what you're thinking, neil, that's because she doesn't know you. neil, you're not that big a deal. neil, she can't soil herself with you. oh, sure, that's the kind of popular stuff everyone with some ounce of credibility says. but, but, but, i was the first

to report on a business network aimed at very successful people that one of the world's most successful singers ever was sort of hanging up her larynx. it's tough. like doing my show, she and i are simpatico on this. now, i'm not retiring. many of you have advised with my fixation with adele that i do just that, but not so fast, okay? adele, as you can see, exclusively telling us, no comment. we'll keep you posted. all right. meanwhile, we've got deadline.com's senior editor dominic patton and entertainment journalist sarah finn. we were going to discuss and will discuss some of the latest box office insurance companies showing some of these -- numbers showing these latest sequels are not quite getting the numbers, but both of them have urged me they want to weigh in on this adele thing, and who am i to

deny them? so, kim, to you on this and what adele is telling the world. what do you think? >> i don't know, neil, maybe she's just waiting for an invitation to come on your show and do a performance right here on your show on the fox business network. neil: i have done that, like, thousands of times. each time she doesn't, you know, come on. but maybe that's it, kim. maybe you touched on it. dominic -- [laughter] the fact that she is not going to retire per se, but retire at least for the time being from all these concerts she's been doing, a very busy schedule. i've been worrying about her, because it's a very aggressive schedule. so she's not hanging it up entirely, just hanging up the tour thing. what do you think of that? >> well, look, i mean, adele, you know, basically announced last week she wasn't going to do those last two nights she had booked for wembley stadium. remember, she did two nights before that, played to over 100,000 people. a voice is a fragile thing, and

i think, you know, it happens at some point especially with someone who has such a range as she does -- which, obviously, you are a great admirer of, neil -- neil: you ask dominic -- wait a minute, dominic. you act like you don't share that same warped, unhealthy fixation. >> when you characterize it like that, my friend, i have to say i think we differ a bit. [laughter] but i will say, i will say that i am a huge adele fan as i am a big fan of -- and this is someone i would recommend also to you and other fox business viewers -- is rag and bone man who is, i would say, the male version of adele. an amazing voice. neil: i'll go with that. no frank sinatra, but i'll go with that. all right, let's get back to -- >> different times, different times -- neil: you're right. >> adele has -- no one can ever say adele has not worked hard over the years, no one can say she hasn't proven every rule of the market industry wrong by breaking through. neil: tell me about it.

>> and the fact of the matter is the lady needs a rest. neil: this picture was taken when she was outside fbn headquarters waving to me. [laughter] all right, kim, before i go too disturbingly into this, i do want to get your take also on what was originally the cause of both of your fine minds to weigh in on these sequels and yet another one that's out there, despicable me 3, did very, very well, not as well as some of its predecessors here. and it's leading to, you know, what we saw with transformers and pirates of the caribbean. a great opening, not as great as their prior version openings. what are we to make of that? >> yeah. you just keep seeing these sequels, last summer you saw the same thing, you know? did we really need alice through the looking glass? did we really need, this year, pirates of the caribbean, as you mentioned, or transformers or cars 3? i think it's been labeled franchise fatigue, you know, do we need to see these over and over again. they make money overseas, so

here, you know, despicable me 3 did fine, it still came in number one, but it's not creative. wonder woman, a movie that has heart, that's funny, a female director, a female star, and it's still performing really well, it's made over $700 million worldwide, doing better in domestically than superman and "batman," doing better than suicide squad. so it's really, you have to to kind of do something creative and new, and i think that's what audiences want these days. neil: but, you know, dominic, what i worry about a little bit is if they know these movies will do so well overseas, particularly in china, they don't seem to care where they're critically reviewed favorably. i'm worried they just get into making a lot of money just doing the same old thing because foreign audiences will eat it up. >> well, i think there's a bit of that. over the past decade, the domestic box office has become less and less important to the big stewed owes. but let's -- studios. but let's not have any

illusions, 2017 so far is down almost 9% from what it was this time last year. me neil really? >> that's real money. that's 1.9 billion. you might say, look, a come billion here, we're not talking about real money, but we are. we're not just looking at franchise fatigue. look at the revitalization of baywatch, look at king arthur, tom cruise's the mummy, all these flopped, stumbled or were doa on arrival. hollywood, to bring in another singer, neil, has been singing a little bit of eddie cochran's the summertime blues this year. neil: someone's been doing his homework. due che -- touche, my friend. kim, the last series of films that broke that genre was the last james bond movie, ironically featuring an adele song. now, i'm not fixated on this, but adele might be the answer for a lot of what ails hollywood, you know? >> yeah. i mean, if pirates of the

caribbean had an adele song, obviously, it would have done really, really well. neil: thank you. >> that goes without saying. you're totally right on that. no, you know, we need more fresh takes on things, more movies like hidden figures, like la la land -- neil: yes, i agree with that. >> i think people just want to see something different, and they look at reviews -- neil: beleagured. >> that makes a big difference. neil: all right. you two were terrific and you also seemed uncomfortable to be here, which i admire. all right, i want to thank you both very, very much. we'll have more after this. ted. yet some cards limit where you earn bonus cash back to a few places. and then, change those places every few months. enough with that! with quicksilver from capital one you've always earned unlimited 1.5% cash back on every purchase, everywhere. welcome to unlimited what's in your wallet?

neil: curious, adele hasn't budged for the last are hour. that's because it's been closed for the last hour. that's the last time my producers are going to try to fool me. wall street week, now. >> announx business headquarters in new york city, "wall street week." maria: welcome to "wall street week." i'm maria bartiromo. thanks for joining us. coming up, former federal reserve chairman alan greenspan my special guest. here are some of the headlines. a week of big swings as the markets end the month, the square and the first half of the year. for the week all three indices found themselves in the red. apple marking the tenth anniversary of the iphone but it was not a good week for apple